- Global equity markets fell last week on talk of an escalation of the US’s trade war with China. Japan suffered the smallest drop of the week, down roughly 2.50% European stocks were down nearly 3.00%, while US equities were down more than 3.20% on the week.
- Treasury yields were lower. Yields on five- and ten-year issues were down roughly nine basis points on the week, driven largely by the same trade issues. The US investment grade fixed income indices were some of the few winners for the week.
- The US Dollar Index was down slightly last week. After an up and down start to the week, the trade-weighted index sold off sharply on Thursday and Friday.
- Crude oil rallied nearly $2 a barrel on Monday, but proceeded to trade sideways for the remainder of the week. Growing tensions between the US and Iran over its nuclear program could disrupt production and push prices higher in the coming weeks.
Click here to download the complete weekly report: EWMWeeklyReview 5.13.19
Disclosure: Past performance is not necessarily indicative of future results.